Ray Cai

Associate Fellow, Energy Security and Climate Change Program
Ray Cai

Ray Cai is an associate fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies (CSIS). Prior to joining CSIS, Ray researched and published on topics across climate geopolitics, emerging clean tech, and sustainable finance for institutions including Columbia-Harvard China and the World Program, the Center on Global Energy Policy, the United Nations, and others. Ray holds an MPA in energy and environment from Columbia University's School of International and Public Affairs, where he was an international fellow, and a BA in international studies and political economy from Boston College.

Programs & Projects

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Audio Briefs

Trade Deals and a New Chapter for American Nuclear?

An audio version of “⁠Trade Deals and a New Chapter for American Nuclear?⁠,” a new Critical Questions by CSIS’s Ray Cai, Jane Nakano, and Joseph Majkut. This audio was generated with text-to-speech by Eleven Labs. 

Podcast Episode by Ray Cai, Jane Nakano, and Joseph Majkut — November 7, 2025

Audio Briefs

Trade Deals and a New Chapter for American Nuclear?

A slew of recently announced trade deals and investment agreements could amount to the most ambitious U.S. government action to support nuclear energy in decades, but key questions remain.

Critical Questions by Ray Cai, Jane Nakano, and Joseph Majkut — November 7, 2025

Next-Generation Geothermal

Next-generation geothermal offers a unique opportunity for renewing U.S. energy leadership. To capitalize on its first-mover advantage and the strategic opening, the United States should proactively spearhead the technology’s international deployment. 

Report by Ray Cai and Rebecca Riess — September 2, 2025

Rethinking U.S. International Energy Finance

The United States needs a coherent international finance strategy that leverages its comparative strengths for emerging markets, where the demand for reliable and affordable energy now lies at the nexus of economic development and geopolitical competition.

Commentary by Ray Cai — June 3, 2025

Audio Briefs

Rethinking U.S. International Energy Finance

An audio version of “⁠Rethinking U.S. International Energy Finance⁠,” a new Commentary by CSIS’s Ray Cai. This audio was generated with text-to-speech by Eleven Labs. 

Podcast Episode by Ray Cai — June 3, 2025

Audio Briefs
Audio Briefs

IRA Tax Credits Are Crucial for U.S. Geothermal Leadership

An audio version of “⁠⁠⁠⁠⁠IRA Tax Credits Are Crucial for U.S. Geothermal Leadership⁠,” a new commentary by CSIS's Ray Cai. This audio was generated with text-to-speech by Eleven Labs.

Podcast Episode by Ray Cai — May 19, 2025

Audio Briefs

IRA Tax Credits Are Crucial for U.S. Geothermal Leadership

Next-generation geothermal offers the United States a strategic opportunity for energy innovation leadership. But history shows that consistent and targeted policy support will be critical to reaching scale and commercial competitiveness. 

Commentary by Ray Cai — May 19, 2025

U.S. Low-Carbon Leadership

This brief outlines an aspirational whole-of-government vision to catalyze U.S. low-carbon leadership on the global stage, drawing on insights from three opportunities to deploy U.S. innovations in three emerging markets critical to future energy systems and global emissions.

Brief by Mathias Zacarias, Ray Cai, and Joseph Majkut — March 6, 2025

Experts React: COP29 Highlights, Challenges, and Emerging Trends in Global Climate Policy

COP29 has brought heads of state, climate experts, nongovernmental organizations, and activists to Azerbaijan to assess global climate efforts and discuss opportunities for cooperation. CSIS experts react to some of the conference’s most notable highlights. 

Commentary by Jane Nakano, Noam Unger, Ray Cai, Mathias Zacarias, Wilder Alejandro Sánchez, Quill Robinson, and Zach Slotkin — November 26, 2024

Climate Week NYC 2024: Lessons Learned and the Work Ahead

To reach net-zero, policymakers, capital allocators, and industry stakeholders need to collaborate on amplifying effective policy solutions and business models that will scale investment and innovation with the necessary scope and speed.

Commentary by Joseph Majkut and Ray Cai — October 30, 2024